The Federal Reserve Board on Friday announced the approval of technical amendments to its rule that identifies global systemically important bank holding companies (GSIBs) and requires those firms to hold additional amounts of risk-based capital to avoid restrictions on capital distributions and discretionary bonus payments. The changes would not materially alter the underlying rule approved by the Board in July 2015.

The amendments are being adopted without change from the proposal released for comment earlier this year. The amendments would clarify that GSIBs:

Must continue to calculate their surcharges using year-end data, while reporting the underlying data on a quarterly basis; and

Should scale the values of their surcharge scores to billions of dollars when computing.

Also on Friday, the Board invited comment on an interim final rule that extends the initial implementation of certain reporting requirements related to the GSIB surcharge rule. The adjusted timeline applies to firms that have $50 billion or more in total consolidated assets and are not currently identified as GSIBs. The reporting requirements are being harmonized with similar reporting requirements from other rules.